True or False: Fed Chair Powell can be removed by the president at any time.

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False. Under Section 10 of the Federal Reserve Act, codified at 12 U.S.C. § 242, each member of the Board of Governors—including the Chair—"shall hold office for a term of fourteen years … unless sooner removed for cause by the President," meaning removal is limited to specified grounds such as inefficiency, neglect of duty, or malfeasance. The Supreme Court in Humphrey"s Executor v. United States (295 U.S. 602 (1935)) upheld Congress"s authority to impose for-cause removal restrictions on heads of independent agencies, reinforcing the Fed"s insulation from at-will political dismissal (, ).

True or False: Fed Chair Powell can be removed by the president at any time.

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